Onto Innovation (NYSE:ONTO) Given New $275.00 Price Target at Oppenheimer

Onto Innovation (NYSE:ONTO) had its target price boosted by Oppenheimer from $260.00 to $275.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

A number of other research analysts have also recently weighed in on ONTO. Benchmark reiterated a “buy” rating and issued a $230.00 target price on shares of Onto Innovation in a report on Friday, August 9th. Stifel Nicolaus increased their target price on shares of Onto Innovation from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Needham & Company LLC reduced their price target on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Onto Innovation currently has an average rating of “Moderate Buy” and an average price target of $254.29.

Onto Innovation Trading Down 11.2 %

Shares of NYSE ONTO traded down $22.23 on Friday, reaching $176.10. 1,839,738 shares of the company traded hands, compared to its average volume of 568,196. The stock has a market capitalization of $8.70 billion, a PE ratio of 52.52, a P/E/G ratio of 1.33 and a beta of 1.36. Onto Innovation has a fifty-two week low of $115.07 and a fifty-two week high of $238.93. The company has a 50 day moving average of $202.50 and a 200 day moving average of $206.56.

Onto Innovation (NYSE:ONTO) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. The firm had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a net margin of 18.50% and a return on equity of 12.71%. Onto Innovation’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 earnings per share. As a group, research analysts expect that Onto Innovation will post 5.18 earnings per share for the current year.

Insider Buying and Selling at Onto Innovation

In related news, SVP Srinivas Vedula sold 1,275 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $207.24, for a total transaction of $264,231.00. Following the completion of the sale, the senior vice president now directly owns 16,050 shares of the company’s stock, valued at approximately $3,326,202. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is owned by corporate insiders.

Institutional Trading of Onto Innovation

Hedge funds and other institutional investors have recently modified their holdings of the business. QRG Capital Management Inc. raised its holdings in Onto Innovation by 2.7% in the second quarter. QRG Capital Management Inc. now owns 1,935 shares of the semiconductor company’s stock valued at $425,000 after acquiring an additional 50 shares in the last quarter. Magnetar Financial LLC raised its stake in shares of Onto Innovation by 4.0% in the 2nd quarter. Magnetar Financial LLC now owns 1,622 shares of the semiconductor company’s stock valued at $356,000 after purchasing an additional 63 shares in the last quarter. Shaker Investments LLC OH lifted its position in shares of Onto Innovation by 1.7% during the second quarter. Shaker Investments LLC OH now owns 3,928 shares of the semiconductor company’s stock worth $862,000 after purchasing an additional 64 shares during the last quarter. Quarry LP grew its stake in Onto Innovation by 232.4% in the second quarter. Quarry LP now owns 113 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC grew its stake in Onto Innovation by 3.6% in the third quarter. Hunter Perkins Capital Management LLC now owns 2,325 shares of the semiconductor company’s stock worth $483,000 after purchasing an additional 80 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

About Onto Innovation

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.